Arizona State Retirement System Sells 1,087 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Arizona State Retirement System decreased its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,568 shares of the communications equipment provider’s stock after selling 1,087 shares during the period. Arizona State Retirement System’s holdings in Viavi Solutions were worth $711,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in VIAV. Heritage Family Offices LLP raised its holdings in Viavi Solutions by 7.5% in the 1st quarter. Heritage Family Offices LLP now owns 14,970 shares of the communications equipment provider’s stock worth $168,000 after purchasing an additional 1,045 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Viavi Solutions by 29.1% in the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider’s stock valued at $56,000 after acquiring an additional 1,138 shares during the last quarter. Xponance Inc. lifted its stake in Viavi Solutions by 11.5% in the fourth quarter. Xponance Inc. now owns 15,977 shares of the communications equipment provider’s stock worth $161,000 after purchasing an additional 1,649 shares during the last quarter. Swiss National Bank lifted its stake in Viavi Solutions by 0.6% in the fourth quarter. Swiss National Bank now owns 438,400 shares of the communications equipment provider’s stock worth $4,428,000 after purchasing an additional 2,600 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Viavi Solutions by 38.1% during the first quarter. KBC Group NV now owns 12,967 shares of the communications equipment provider’s stock valued at $145,000 after acquiring an additional 3,579 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Trading Up 0.8%

Shares of VIAV stock opened at $10.28 on Tuesday. The firm’s 50 day moving average price is $9.64 and its two-hundred day moving average price is $10.36. Viavi Solutions Inc. has a fifty-two week low of $7.03 and a fifty-two week high of $12.91. The company has a quick ratio of 1.32, a current ratio of 1.53 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 514.26 and a beta of 0.88.

Insider Transactions at Viavi Solutions

In related news, Director Richard Belluzzo sold 8,385 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total value of $84,017.70. Following the sale, the director directly owned 242,311 shares of the company’s stock, valued at $2,427,956.22. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Wall Street Zen raised shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. UBS Group cut their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $13.50 price objective on shares of Viavi Solutions in a research note on Friday, June 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Viavi Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $12.69.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.